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Gold, silver jump on report that the US and Iran are nearing a peace deal
Key takeaways
- What’s behind the move: Investors were assessing an Axios report that the US believes it’s close to an agreement with Iran on a one-page memorandum to end the war.
- Read more: How to invest in gold in 4 steps
- What else you need to know: Gold has been an underperformer during the Iran war, relative to stocks or bitcoin (BTC-USD).
Gold, silver jump on report that the US and Iran are nearing a peace deal Ines Ferré · Senior Business Reporter Wed, May 6, 2026 at 6:25 PM GMT+7 1 min read GC=F SI=F BTC-USD CL=F DX-Y.NYB What happened: Gold (GC=F) and silver (SI=F) futures jumped more than 3.5% and 6%, respectively, on Wednesday morning.
What’s behind the move: Investors were assessing an Axios report that the US believes it’s close to an agreement with Iran on a one-page memorandum to end the war.
Read more: How to invest in gold in 4 steps
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